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Archive: 25 December 2022

Posts in 25 December 2022

Non-grant of transitional credit – HC directs appellant to take benefit of SC decision in Filco Trade

December 25, 2022 1026 Views 0 comment Print

Rockland Media And Communication Pvt. Ltd. Vs Union of India (Gauhati High Court) The petitioner is challenging the non-grant of transitional credit under Section 140 of the Central Goods and Services Tax Act, 2017 and the Assam Goods and Services Tax Act, 2017. The petitioner’s counsel submits that the writ petition can be disposed of […]

CESTAT orders re-adjudication of CENVAT Credit issue decided by authorities under Old Theory

December 25, 2022 924 Views 0 comment Print

Kohler India Corporation Private Limited vs C.C.E. & S.T (CESTAT Ahmedabad) The facts of the case, in brief, are that a team of Central Excise Officers visited the factory premises of appellant and documents related to Cenvat Credit availed on services received from various service providers were called. Upon the examination of the appellant’s records/ […]

Proviso to Rule 4(1) of CENVAT Credit Rules, 2004 has prospective effect

December 25, 2022 726 Views 0 comment Print

ITC Sonar (A Unit of ITC Limited) Vs Commissioner of CGST & CX (CESTAT Kolkata) The only issue to be decided in this Appeal is whether the 3rd Proviso of Rule 4(1) of CENVAT Credit Rules, 2004 as introduced w.e.f. 01.09.2014, has got retrospective effect. I find that the said proviso was introduced w.e.f. 01.09.2014 […]

RCM applicability on Residential dwelling under GST

December 25, 2022 79527 Views 11 comments Print

Learn more about RCM applicability on Residential dwelling under GST. Find out how two parties, Mr. A and ABC Co. A, may be impacted. Notification No. 05/2022- Central Tax (Rate) helps you understand the transaction under GST.

Cenvat Credit eligible on Parts for efficient functioning of Machine for Manufacturing

December 25, 2022 300 Views 0 comment Print

Parts in issue herein have been used for smooth and efficient functioning of machinery which has been used for manufacturing Sugar and Molasses and therefore there is no reason not to allow Cenvat credit

HC Stays Garnishee Order under GST as 50% of demand already been recovered

December 25, 2022 687 Views 0 comment Print

Graphic aids Vs Sales Tax Officer (Calcutta High Court) As stated by the learned Advocate for the appellant that sum of Rs.16,51,924/- has been recovered after the writ petition was dismissed, we feel the interest of revenue has been sufficiently safeguarded as more than 50% of the total dues has already been recovered. Therefore, the […]

Centralised Service income of Startwood Hotel from Indian Customers not FTS: HC

December 25, 2022 324 Views 0 comment Print

ITAT has erred in holding that the entire payments received by the Assessee from its Indian Customers on account of Centralized Services viz. sales and marketing, loyalty programs, reservation service, technological service, operational services and training programs/human resources do not constitute ‘Fee for Technical Services’ as defined under Section 9(l)(vii) of the Income Tax Act, 1961 (the ‘Act’) or ‘Fee for included services’ as defined under Articles 12(4) (a) of the Indo-US DTAA.

No prohibition under SBN Ordinance, 2016, to deal with Specified Bank Notes up to 31.12.2016

December 25, 2022 1434 Views 0 comment Print

Umamaheswari Vs ITO (ITAT Chennai) As regards, the first objection of the AO on legal tender of Specified Bank Notes on or after 08.11.2016, I find that as per the Specified Bank Notes (Cessation of Liabilities) Ordinance, 2016, which came into effect from 31.12.2016 appointed date for this purpose means 31.12.2016. Further, as per Sec.5 […]

Allowability of Interest expenses of Funds utilized for Investment in Subsidiary Company

December 25, 2022 756 Views 0 comment Print

ACIT Vs BIP Developers Pvt. Ltd (ITAT Kolkata) In the present case, the commercial expediency of the interest expenditure in question was duly established by the assessee and on appreciation of the relevant facts of the case of the assessee as well as keeping in view the decision of the Hon ’ble Supreme Court in […]

Section 54/54F exemption – Flat Booking Vs. Possession

December 25, 2022 4926 Views 0 comment Print

Pradeep Kumar Sonthalia Vs DCIT (ITAT Kolkata) The assessee has claimed exemption under section 54 and 54F of the Income Tax Act. Such exemption has been denied to the assessee by observing that it has booked the flat with the builder in earlier year but ultimately took the possession in subsequent years. Therefore, he failed […]

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